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4/20/2016, 10:40 PM (Source: TeleTrader)
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American Express reports rise in revenue for unstable first quarter

The iconic credit card company jumped more than 3.6% in extended trade on Wednesday after posting first quarter earnings of $1.4 billion or $1.45 per share, compared to $1.53 billion, or $1.48 per share in the same period one year before. Revenue of American Express Co. came out at $8.09 billion, advancing from $7.95 billion from the first three months of 2015 despite sharp financial shocks in the reporting quarter. The revenue was up 4% adjusted for currency, due to net interest windfall, fees for cards and consumer spending. The outlook for the year was maintained.

American Express earlier closed at $65.02 per share, 2.28% up for the day and 15.5% lower than six months ago. Meanwhile, benchmark averages Dow and S&P 500, which moved little in the session, gained 5.11% and 3.53% in half a year. 

 

Image: EPA / Justin Lane

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